Today Chicago-based investment research specialist Morningstarpublicly released its "Morningstar Direct Asset Flows Commentary: United States" report for April 2017. Alina Lamy, senior analyst of quantitative research, penned the report. (An abridged version of the report is publicly accessible, while the full report and appendices are available to Morningstar Direct users.)

Schwab led the big fund firm pack in April on a relative basis, bringing in estimated net inflows of 2.25 percent of its AUM. Close behind (in net inflows as a percentage of AUM) were BlackRock with 1.92 percent, and Guggenheim with 1.82 percent. Rounding out the top five big fund firm winners on a relative basis were Lord Abbett with 0.87 percent and DFA with 0.80 percent.

On the flip side, J.P. Morgan suffered an estimated $9.026 billion in net outflows last month, more than any other fund firm. The other biggest sufferers in April were: SSgA, $5.803 billion in net outflows; Fidelity, $2.846 billion; T. Rowe Price, $2.468 billion; and Franklin Templeton, $2.386 billion.